Next boss Lord Wolfson is to share his £4m annual bonus among his staff. It is the second successive year he has made the gesture.
Each of about 20,000 Next staff will receive an average of £200. The Wolfson windfall is linked to the Next share scheme for senior executives that sees part of their bonuses converted into Next stock.
In a letter to staff, Lord Wolfson wrote: “I am also in the very fortunate position to have significantly benefited as a shareholder.
“In these circumstances, instead of accepting the award, I have asked the board if they will share it amongst all those who have worked for the company during the three year…period 28 April 2011 to 28 April 2014.”
Lord Wolfson’s remuneration for 2013 will be disclosed in the company’s annual report, which is due to be published on Friday.